Newmont Goldcorp Corp (NYSE:NEM) – Investment analysts at B. Riley issued their Q2 2019 earnings estimates for Newmont Goldcorp in a research note issued on Tuesday, June 11th. B. Riley analyst A. Graf anticipates that the basic materials company will post earnings of $0.23 per share for the quarter. B. Riley has a “Neutral” rating and a $38.40 price target on the stock. B. Riley also issued estimates for Newmont Goldcorp’s Q3 2019 earnings at $0.40 EPS, Q4 2019 earnings at $0.45 EPS, FY2019 earnings at $1.41 EPS and FY2020 earnings at $1.42 EPS.
Newmont Goldcorp (NYSE:NEM) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07. Newmont Goldcorp had a net margin of 3.26% and a return on equity of 6.13%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the company earned $0.35 EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year.
A number of other equities research analysts have also weighed in on the stock. Raymond James lowered their price objective on shares of Newmont Goldcorp from $48.00 to $47.00 and set an “outperform” rating for the company in a report on Tuesday, March 5th. Barclays boosted their price objective on shares of Newmont Goldcorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. TheStreet upgraded shares of Newmont Goldcorp from a “c” rating to a “b-” rating in a report on Thursday, February 21st. Zacks Investment Research lowered shares of Newmont Goldcorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 19th. Finally, Desjardins reiterated a “buy” rating and set a $43.00 price target on shares of Newmont Goldcorp in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $41.23.
NEM stock opened at $35.55 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.97 and a quick ratio of 2.62. Newmont Goldcorp has a one year low of $29.06 and a one year high of $39.19. The company has a market capitalization of $29.07 billion, a price-to-earnings ratio of 26.33 and a beta of -0.08.
A number of institutional investors have recently modified their holdings of the business. Utah Retirement Systems increased its position in Newmont Goldcorp by 0.3% during the 4th quarter. Utah Retirement Systems now owns 99,391 shares of the basic materials company’s stock valued at $3,444,000 after purchasing an additional 300 shares during the period. Archford Capital Strategies LLC increased its position in Newmont Goldcorp by 66.7% during the 4th quarter. Archford Capital Strategies LLC now owns 750 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 300 shares during the period. CAPROCK Group Inc. increased its position in Newmont Goldcorp by 3.2% during the 1st quarter. CAPROCK Group Inc. now owns 10,296 shares of the basic materials company’s stock valued at $368,000 after purchasing an additional 316 shares during the period. Baystate Wealth Management LLC grew its position in shares of Newmont Goldcorp by 35.5% in the 1st quarter. Baystate Wealth Management LLC now owns 1,251 shares of the basic materials company’s stock worth $40,000 after buying an additional 328 shares during the period. Finally, First Mercantile Trust Co. grew its position in shares of Newmont Goldcorp by 70.2% in the 4th quarter. First Mercantile Trust Co. now owns 800 shares of the basic materials company’s stock worth $28,000 after buying an additional 330 shares during the period. 87.57% of the stock is currently owned by institutional investors and hedge funds.
In other Newmont Goldcorp news, CEO Gary J. Goldberg sold 4,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $35.85, for a total transaction of $143,400.00. Following the transaction, the chief executive officer now directly owns 129,680 shares of the company’s stock, valued at approximately $4,649,028. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas Ronald Palmer sold 1,250 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $35.85, for a total transaction of $44,812.50. Following the transaction, the insider now directly owns 276,573 shares in the company, valued at $9,915,142.05. The disclosure for this sale can be found here. Insiders have sold a total of 44,305 shares of company stock valued at $1,483,868 over the last quarter. 0.44% of the stock is currently owned by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, June 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.58%. Newmont Goldcorp’s dividend payout ratio is currently 41.48%.
Newmont Goldcorp Company Profile
Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of December 31, 2018, the company had proven and probable gold reserves of 65.4 million ounces and an aggregate land position of approximately 24,000 square miles.
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